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now answer your question, social security has not added a penny to the federal debt, to the deficits every year. it has a surplus. it has a surplus of $2.7 trillion. so why are we in such a rush to change a program that does not have -- is not bankrupt, has a surplus, has 22 years of solvency before it does have a serious problem and has not contributed to the federal debt? >> and we can talk about these programs separately. we know that social security is considered to be in sounder shape than is medicare which is viewed as potentially running out of funds in the next few years, whereas social security -- but let's take them one at a time. when it comes to social security you have the simpson-bowles deficit reduction commission saying that if you don't deal with these programs you just can't be serious about getting your arms around this country's huge debt and deficit crisis. >> well, i go back to where i started. this program didn't add to the debt, hasn't contributed to the debt. we're not saying -- we're not a group that has our heads in the sand and is committed to never doing
now answer your question, social security has not added a penny to the federal debt, to the deficits every year. it has a surplus. it has a surplus of $2.7 trillion. so why are we in such a rush to change a program that does not have -- is not bankrupt, has a surplus, has 22 years of solvency before it does have a serious problem and has not contributed to the federal debt? >> and we can talk about these programs separately. we know that social security is considered to be in sounder...
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captioning sponsored by macneil/lehrer productions >> brown: with no compromise in sight for a deficit deal, president obama pressed his case at the home of a middle class family in virginia today, part of his pitch to extend tax cuts for all but the very wealthy. good evening, i'm jeffrey brown. >> woodruff: and i'm judy woodruff. on the "newshour" tonight, we update the state of the negotiations and examine the push to make changes to social security and medicare >> brown: then, margaret warner looks at the political strife in egypt, after deadly clashes in the streets and resignations by top officials. >> woodruff: we have a battleground dispatch from a coastal city facing rising sea levels and the next big storm. >> if sandy were to come close or directly into norfolk i think we'd all be in big trouble. >> brown: we assess the latest diplomatic moves to end syria's war, as secretary of state hillary clinton meets with russia's foreign minister. >> woodruff: and ray suarez has the story of a program that aims to put students at low-achieving schools on a path to high school graduati
captioning sponsored by macneil/lehrer productions >> brown: with no compromise in sight for a deficit deal, president obama pressed his case at the home of a middle class family in virginia today, part of his pitch to extend tax cuts for all but the very wealthy. good evening, i'm jeffrey brown. >> woodruff: and i'm judy woodruff. on the "newshour" tonight, we update the state of the negotiations and examine the push to make changes to social security and medicare...
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Dec 5, 2012
12/12
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the deficit right now is. the notion that something terrible will happen if we don't deal with the deficit right away. the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial spending cuts, substantial tax increases at a time when the dme is still very weak. of course that's a recipe for sliding back into recession. we set ourselves up with the land mine and the road in front of our economy which is not based on anything real, it's just based on our politicalness. >> ifill: speaking of political mess, both sides have what they say are opening gambits on the table. president obama at least his last week which calls for $1.6 trillion in revenues. the republicans came back with their own yesterday. as you look
the deficit right now is. the notion that something terrible will happen if we don't deal with the deficit right away. the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial...
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we cannot cut your way to deficit reduction. what reduces the deficit are jobs. job creation. after spending cuts, and medicare saving, and next is the revenue. >>reporter: leader pelosi spent time at the white house today meeting with president obama on what we are told are a number of issues. >>shepard: thank you, mike, from washington, dc. we know that business collects information from us when we go to our website our mobile apps. usually it is legal. there is a new law that requires companies to notify you if it is taking information from you. to law is about to be put to the test. i got word in the last 30 seconds and a ruling from the supreme court, a decision from the supreme court, actually, on whether it will hear a same-sex marriage case and the constitutionality of that. the answer is "yes" the court has notified us. all energy development comes with some risk, but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and redu
we cannot cut your way to deficit reduction. what reduces the deficit are jobs. job creation. after spending cuts, and medicare saving, and next is the revenue. >>reporter: leader pelosi spent time at the white house today meeting with president obama on what we are told are a number of issues. >>shepard: thank you, mike, from washington, dc. we know that business collects information from us when we go to our website our mobile apps. usually it is legal. there is a new law that...
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welcome mood here in russia to this controversial piece of legislation you see things i'm all for about a deficit from moscow all teased you see coming. when i'll be back with more international news with the news team in just a few moments stay with us this is altie in moscow. i never thought i could earn a living this way. the issue of oil is the norm or should test small arms so those photos to machine building cool and not obvious lost count of all the weapons she's fired over the past twelve years. i got so used to it sometimes my friends ask me to join them at the rifle range and i say no wait i'm so tired of shooting. the planet's history goes from making firearms doing world war two to ballistic missiles from nuclear submarines during the cold war the bulk of the soviet industry was moved here in the 1940's to flee the advancing germans so if you were also became the heart of soviet military production closed off before this fall hoffa's century it's thrived on the message of the soviet military when the u.s.s.r. collapsed but life here was shaken to the core but some adapted to better th
welcome mood here in russia to this controversial piece of legislation you see things i'm all for about a deficit from moscow all teased you see coming. when i'll be back with more international news with the news team in just a few moments stay with us this is altie in moscow. i never thought i could earn a living this way. the issue of oil is the norm or should test small arms so those photos to machine building cool and not obvious lost count of all the weapons she's fired over the past...
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last i looked at the trade deficit, we were, again, lagging and uke sking popped water. there's arising deficit stripping our gdp. >>nd right now europe is in a relative deep recession. we're still above water. lou: you jumped all over the punch line because you talk about things not making sense. folks, this is not making sense. i'm delighted because people have wealth left in the equities market, the bond market. w long will that be the case if we go over the cliff? >> won't be the case for long if we have a recession followed by a typical bear market. lou: how long to get to recession -- >> we can get there pretty quick. in fact, some of the down downdrafts are starting to form. we saw those in the q3 gdp numbers were sinking into @%ntraction. lou: 2.7 -- >> employment reports gnar november and december, not surprised if gains in private sector payrolls are well over 100,000 new jobs. lou: that would not be good. baseline at least, i think, for passable is 125. what's your judgment? >> about the same, okay, that's a c-minus grade, get a "c" if we hit 150. lou: might s
last i looked at the trade deficit, we were, again, lagging and uke sking popped water. there's arising deficit stripping our gdp. >>nd right now europe is in a relative deep recession. we're still above water. lou: you jumped all over the punch line because you talk about things not making sense. folks, this is not making sense. i'm delighted because people have wealth left in the equities market, the bond market. w long will that be the case if we go over the cliff? >> won't be...
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so of course we can't raise enough taxes to completely deal with the deficit. and you do have to do reforms. you need to reform the tax system. you certainly need to make additional cuts. i do want to remind you though, that we have already voted on one trillion dollars of cuts, cuts that would cause great pain. i agree what you 100%. it can not be done. melissa: spending cutting numbers are even smaller than the tax numbers. they don't get us there either. i'm worried about stalling the economy. in the meantime when we talk about raising taxes and what it would do to small business. democrats like to point out we would only raise taxes on 3% of small business owners. >> right. melissa: but that 3% generates 50% of the income from small business. so they're hiring the majority of people. to me that is going to cost us jobs. >> well, you know what? i think that what will cost us jobs for sure is if we go off thissfiscal cliff, because it is not just about raising tacks. it is also about the debt ceiling. it is about unemployment insurance. we have number of key
so of course we can't raise enough taxes to completely deal with the deficit. and you do have to do reforms. you need to reform the tax system. you certainly need to make additional cuts. i do want to remind you though, that we have already voted on one trillion dollars of cuts, cuts that would cause great pain. i agree what you 100%. it can not be done. melissa: spending cutting numbers are even smaller than the tax numbers. they don't get us there either. i'm worried about stalling the...
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Dec 7, 2012
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so you see on the one level at the abstract level, debt, deficit, fiscal cliff. there's an immediate transition been to the to do list, which is what they would like to see effort. finally, and interestingly with all of this battering that people have taken during this last few years of difficult economy, we gave voters, we will go through this question in detail, but we gave voters a choice. short term, solutions to fix the problem, our long-term visionary policies that will put us on the right track? interestingly enough at this point people are thinking longer-term. part of that restored optimism is different for different groups, but generally speaking people are looking for longer horizons. just quickly, the mood of the country, you see the track, the red truck, this long track. easy it is still 50% believe the country is on the wrong track but you see substantial improvement sends where we were in the middle, the late fall of 2011. so that's when it really bottomed out. 70% wrong track, that was around the time of the debt ceiling debate. only 33% of democr
so you see on the one level at the abstract level, debt, deficit, fiscal cliff. there's an immediate transition been to the to do list, which is what they would like to see effort. finally, and interestingly with all of this battering that people have taken during this last few years of difficult economy, we gave voters, we will go through this question in detail, but we gave voters a choice. short term, solutions to fix the problem, our long-term visionary policies that will put us on the...
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. >> this is not about getting a handle on deficits or debt for him. it's about spending even more than he has. >> white house aids reject the republican claims that holding the debt limit over the president's head is the only mechanism to get him to trim spending. >> you're just going to keep at the debt limit goes higher, you spend more money. you and congress, both. >> that's false. president signed into law a trillion dollars in discretionary cuts. the president has a specific proposal to achieve $600 billion in savings from entitlement programs like health care entitlement programs. >> jay compared republican pressure on the debt ceiling to a hostage taking. >> a profoundly bad idea that i think could not be more frightening for american businesses, and american workers. >> treasury secretary tim geithner may have frightened people yesterday saying the white house is prepared to go off the fiscal cliff unless republicans bend on taxes. a comment by former democratic potential candidate howard deen frighted republicans that the debate is not just a
. >> this is not about getting a handle on deficits or debt for him. it's about spending even more than he has. >> white house aids reject the republican claims that holding the debt limit over the president's head is the only mechanism to get him to trim spending. >> you're just going to keep at the debt limit goes higher, you spend more money. you and congress, both. >> that's false. president signed into law a trillion dollars in discretionary cuts. the president has...
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right now with fourth year in a row with over a trillion dollars in deficit spending, that deficit and debt continues it to climb. it doesn't wipe it out. what does it do to the overall economy. we're not just dealing with one tax increase right now. the affordable care act actually begin on january 1st as well for people making $200,000 or more or people with large medical bills. that already starts coming up. this is an additional tax increase on top of that tax increase. >> what about what bill clinton said? he said once things start to get better, and that's a crucial point he was making. he wasn't saying doing it right away. once it gets better, taxes go up on the middle class. do you agree with that? >> i don't, actually. the reason being is that right now if you look at the real math on it, in 2007 and 2012 we have the same amount of revenue. obviously 2008 and '09 we had a dramatic drop in federal revenues coming in. we've slowly climbed back up. revenue has gone up every single year in the obama administration, and now we're at historic highs. the difference is our spending in
right now with fourth year in a row with over a trillion dollars in deficit spending, that deficit and debt continues it to climb. it doesn't wipe it out. what does it do to the overall economy. we're not just dealing with one tax increase right now. the affordable care act actually begin on january 1st as well for people making $200,000 or more or people with large medical bills. that already starts coming up. this is an additional tax increase on top of that tax increase. >> what about...
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there was plenty of that throughout the interview but do these twenty four seven deficit debates do you want to undermine perceptions of america and the dollars position in the international monetary system then they do to address the nation's growing debt real discuss uncle sam exorbitant privilege despite the budget woes and assess the competitive currency landscape plus the dollar fell against other currencies to a six week low this morning according to reuters which cited concerns over a fiscal cliff deal but what does the so-called dollar index really gauge when it comes to the greenbacks true value will break it down and word of the day and paying people to track the comings and goings of private corporate jets and the big wigs on them amount to this. material nonpublic information which is defined as the information that the average investor doesn't have the capability of an insider trading case pretty damn. there is a debate we'll talk about it and loose change let's get to today's capital account . while a fiscal cliff debate seems to consume the domestic airwaves it also rever
there was plenty of that throughout the interview but do these twenty four seven deficit debates do you want to undermine perceptions of america and the dollars position in the international monetary system then they do to address the nation's growing debt real discuss uncle sam exorbitant privilege despite the budget woes and assess the competitive currency landscape plus the dollar fell against other currencies to a six week low this morning according to reuters which cited concerns over a...
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. >> translator: construction bonds and deficit covering bonds are both debts. it could but the wrong economic policy to depends on the bonds and make the boj buy them. >> reporter: economists are also split on the issues. there's a lot the bank of japan can do. >> reporter: the boj can take a number of measures. one is to expand the balance sheet. the bank can buy more government bonds and even foreign bonds. another important step is for the boj to have a clear target for price increases. >> reporter: monetary easing alone cannot overcome deflation. >> defeating deflation is possible, unrealistic and not feasible and also destable ieid. >> what's needed to end japan's deflation and rescue japan out of its slump. >> deregulating medical industry, agriculture and maybe try to increase a number of immigrants. that'd be very important. collapse of the japanese marts that probably lead to a significant deposits. when it starts to fall out and banks cannot bjb's, interest will go up. that's how effects are huge. financial system may become really unstable. >> report
. >> translator: construction bonds and deficit covering bonds are both debts. it could but the wrong economic policy to depends on the bonds and make the boj buy them. >> reporter: economists are also split on the issues. there's a lot the bank of japan can do. >> reporter: the boj can take a number of measures. one is to expand the balance sheet. the bank can buy more government bonds and even foreign bonds. another important step is for the boj to have a clear target for...
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right now with the fourth year in a row, that deficit and debt continues to climb. so it doesn't really wipe it out and the challenge of it is what does that do to the overall economy. we're not just dealing with one tax increase as well. a lot of people lose track of that. the affordable care about actually begin on january 1st as well for people making $200,000 or more. or people having large medical bills. this is talking about an additional tax increase on top of that. >> what about what bill clinton said? he said once things start to get better and that's a crucial point he was making. once the economy starts to get better, taxes have to go up on the middle class. do you agree? is. >> i don't, actually. and the reason being is that right now, if you look at the real math, in 2007 and 012, we have the same amount of revenue. now, 2008 and 2009, we had a dramatic drop in federal revenues, but we've slowly climbed back up. revenue has gone up every year of the obama administration and now, we're at historic highs. the same as we were five years ago. the difference
right now with the fourth year in a row, that deficit and debt continues to climb. so it doesn't really wipe it out and the challenge of it is what does that do to the overall economy. we're not just dealing with one tax increase as well. a lot of people lose track of that. the affordable care about actually begin on january 1st as well for people making $200,000 or more. or people having large medical bills. this is talking about an additional tax increase on top of that. >> what about...
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they were elected as a check and balance against president obama's reckless deficits and his reckless debt. they were elected to stop the explosive growth of government. the republicans were elected and sent to washington to fight for limited government, balanced budgets, and of course, greater liberty for all the american people. at this moment it seems like they are only offering a democratic light version for america. maybe they need to learn a thing or two from president obama. maybe they need to show a willingness to go over the so-called fiscal cliff. now, if the president really wants to take the country there, maybe they need to let him go there. here's the bottom line. what are we hearing from the white house? we're hearing the president will not negotiate unless taxes are raised on job creators, and we're hearing that the president now wants to seize control of the debt ceiling from congress. well, that means rather than needing the approval of the house was the senate to raise the nation's spending limit, president barack obama wants to do this all by his lonesome, a blank
they were elected as a check and balance against president obama's reckless deficits and his reckless debt. they were elected to stop the explosive growth of government. the republicans were elected and sent to washington to fight for limited government, balanced budgets, and of course, greater liberty for all the american people. at this moment it seems like they are only offering a democratic light version for america. maybe they need to learn a thing or two from president obama. maybe they...
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the congressional budget office just announced that the federal budget deficit for the last two months hit $292 billion. if we were to keep spending more than we take in at that rate america would add another $1.7 trillion to the national debt by this time next year. ironically this comes just about one hour after republican house speaker john boehner held a news conference suggesting that the president has been unwilling to compromise on a deal to cut our debt and complaining about washington's, quote, spending program. >> there are a lot of things that are possible to put the revenue that the president seeks on the table, but none of it is going to be possible if the president insists on his position. insists on my way or the highway. that's not the way to get to an agreement that i think is important for the american people and very important for our economy. alisyn: the bitter partisan fight over the debt deal even came up in a surprising way at last night's national tree lighting ceremony in washington. during a rendition of santa claus is coming to town one of the musicians pause
the congressional budget office just announced that the federal budget deficit for the last two months hit $292 billion. if we were to keep spending more than we take in at that rate america would add another $1.7 trillion to the national debt by this time next year. ironically this comes just about one hour after republican house speaker john boehner held a news conference suggesting that the president has been unwilling to compromise on a deal to cut our debt and complaining about...
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volume since the dot com bubble burst low business investment low were record budget deficits from the government and high unemployment do we actually need a bubble not a case i would make but a very smart gentleman is here to tell us why they can sometimes be good joining me from our new york studio is dr william janeway he's senior advisor for warburg pincus technology and author of the book doing capitalism in the innovation economy markets speculation and the state first thank you so much for being on the show very good to be here we're going to have you because you have said and i would definitely agree that bubbles have received bad press whether we're talking about the two live bubble in the sixteen hundreds or whether we're talking about the real estate bubble ahead of two thousand and eight but in some instances you say bubbles can be good why can bubbles be good and what kind of a bubble would we need or might we need now well the first thing as you've said is the bubbles or boringly common where ever there is a active trading liquid market in the us from tulip bulbs to real
volume since the dot com bubble burst low business investment low were record budget deficits from the government and high unemployment do we actually need a bubble not a case i would make but a very smart gentleman is here to tell us why they can sometimes be good joining me from our new york studio is dr william janeway he's senior advisor for warburg pincus technology and author of the book doing capitalism in the innovation economy markets speculation and the state first thank you so much...
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Dec 1, 2012
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a year ago facing a stagnant economy and long term deficit everybody in washington agreed they should come together make the tough decisions that had to be made. something that would provide short-term stimulus but long-term debt relief. after all we all knew something had to be done. the health of our nation depended on it. washington, surprise surprise, decided to delay for the umpteenth time kicking the proverbial can down the road. then the campaign really heated up and we were told we would have our sweet relief after the election. finally the story went voters would provide clarity, a choice played out across the country that would deliver the elusive answers. what are we getting? endless posturing, game playing and the same rhetoric over and over again. both sides standing up and preening themselves campaign style as if they expect the public to pay attention and give deference to the repetition of the same ideas. i for one are tired of it. americans have been poked and prodded, pulled left and right at the same time and used in some cases abused. the campaign is over. we have
a year ago facing a stagnant economy and long term deficit everybody in washington agreed they should come together make the tough decisions that had to be made. something that would provide short-term stimulus but long-term debt relief. after all we all knew something had to be done. the health of our nation depended on it. washington, surprise surprise, decided to delay for the umpteenth time kicking the proverbial can down the road. then the campaign really heated up and we were told we...
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he has he has not met his targets he is not going to deal with the deficit as he said the road growth we grow and also there's going to be a huge cart made in benefits pavement to some of the poorest people in the conclave are going to suffer the most i was resolved to go. and there's no end to this will start now i want to talk to you about that because we saw that just one percent for the benefit of the welfare bill and that's less than inflation you know that's really going to hit a huge. number of books forty seven billion pounds. and we're talking about farmers is a really on the bread line anyway even losing ten twenty pounds is a big hit i mean it's a very cold outside and it's a very cold prospect for britain's poor because they are going to bear the brunt of the start of course by christmas by also doesn't know what he's doing thank you very much for joining us also say there's a lot of course the concern as he said them on picking through the thing is one thing cutting through all the waste and that's the case is going to have to pray so even talk. even more. well that with
he has he has not met his targets he is not going to deal with the deficit as he said the road growth we grow and also there's going to be a huge cart made in benefits pavement to some of the poorest people in the conclave are going to suffer the most i was resolved to go. and there's no end to this will start now i want to talk to you about that because we saw that just one percent for the benefit of the welfare bill and that's less than inflation you know that's really going to hit a huge....
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a deficit that was originally due to last five years is now due to last eight years and we now know that debts will be higher as a share of g.d.p. by the end of the parliament than it was at stopping that result of policies. by the kurdish government which. tightened policy to foster and that has resulted in lower growth and high authority he would claim of course this is a policy that was pursued by blair and brown and the previous labor government this is the legacy that they have left behind creating such a massive debt in the first place oh look of course it's true that there had to be some spending cuts they have to be done in balance measured way that doesn't. hurt the economy more than necessary and. the last thing that you should do in times of economic weakness is to comic spending at such a fast rate because when consumers aren't spending because that. column when business is the hoarding cash it's actually the government that has that has to spend to get growth going and if you don't have growth then you weren't reduce your definitely doing that george five billion pounds on b
a deficit that was originally due to last five years is now due to last eight years and we now know that debts will be higher as a share of g.d.p. by the end of the parliament than it was at stopping that result of policies. by the kurdish government which. tightened policy to foster and that has resulted in lower growth and high authority he would claim of course this is a policy that was pursued by blair and brown and the previous labor government this is the legacy that they have left behind...
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his own deficit reduction commission. he knows what our proposals are, he knows what we are throwing do. what we don't know, chris, is what is the president willing to do? >> well, let me ask you specifically about that. is it true, because it's been said but we've never seen a piece of paper; it true that the president offered to raise the eligibility age for medicare and to slow cost of living adjustments for social security what you were in your debt talks in august ofs2011. >> it was on the table. did the president agree to it? it may have been close to an agreement to it. if he agreed to it we might not have some problem today. >> is that on the table now. of course, it's on the table. >> no, is it on the table from their point of view. >> well, there are a lot of items on the table. the president knows what they are. the question is what are they willing to do. >> you are starting it have some political problems because you are starting to have some split necessary your ranks. i don't have to tell you one of the top
his own deficit reduction commission. he knows what our proposals are, he knows what we are throwing do. what we don't know, chris, is what is the president willing to do? >> well, let me ask you specifically about that. is it true, because it's been said but we've never seen a piece of paper; it true that the president offered to raise the eligibility age for medicare and to slow cost of living adjustments for social security what you were in your debt talks in august ofs2011. >>...
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Dec 6, 2012
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that's a drop in the bucket compared to our $16 trillion debt, trillion dollar deficit. what a lot of people are saying and arguing when they look at this situation is if you're really going to be serious about deficit reduction it can't just be about taxes. it has to be about spending cuts, too. >> on that point of spending it's always important to remember where do we spend money in the federal budget? you put together to remind us where we spend the most of the money. >> the bulk of our money is going to entitlement programs like social security medicare medicaid medicaid. that's mandatory spending that's been budgeted based off what we spend on our taxes. the bulk of it is going there. 20% is going to defense. discretionary spending is 13% and 7% the interest we are paying on our debt. that's also mandatory and we have to make good on our debt. >> which is why anybody serious about the debt says you have to look at entitlements based on that. where are the areas for compromise? >> so when you look at where they're talking about cutting spending, it's in the discretio
that's a drop in the bucket compared to our $16 trillion debt, trillion dollar deficit. what a lot of people are saying and arguing when they look at this situation is if you're really going to be serious about deficit reduction it can't just be about taxes. it has to be about spending cuts, too. >> on that point of spending it's always important to remember where do we spend money in the federal budget? you put together to remind us where we spend the most of the money. >> the bulk...
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that's half of last year's federal deficit. what's 800 billion in savings over a decade? that's irrelevant. absolutely. whatever time he spent negotiating that was a complete waste of time. >> here's my criticism. they seem to be negotiating against themselves. they give a proposal, obama gives a non-proposal, and they respond with another proposal. here's what i don't understand. seems the answer is simple if they're worried about the pr side or the political side. pass the bill. extend all the bush tax cuts and then the president and the senate or the president decides if they want to raise taxes on the middle class or not. put it on them. put the onus on them. >> they will have voted not to do that. obama has made a bet that the republican party is so inept at the politics of this that they will get stuck with it. he can hang the debt alba tros of the biggest tax increase in american history around their next. >> he wants it all. howard dean is the only guy i see that has said this is the best case scenario. they get defense sequestration, they get to raise taxes on ev
that's half of last year's federal deficit. what's 800 billion in savings over a decade? that's irrelevant. absolutely. whatever time he spent negotiating that was a complete waste of time. >> here's my criticism. they seem to be negotiating against themselves. they give a proposal, obama gives a non-proposal, and they respond with another proposal. here's what i don't understand. seems the answer is simple if they're worried about the pr side or the political side. pass the bill. extend...
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Dec 1, 2012
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locale raising state and taxes to solve their deficit problems. something to keep in mind when we talk about these detention caps. you could be pushed up against a deduction if you live in new york. if you live in new york and have high state and local taxes, if congress moves forward with a deduction cap, you could go right up to that cap. host: 24% of those were claiming the earned income tax credits. 13% climb in the child tax credit. these credits, you can use them simultaneously. guest: some of these are refundable which means you get money back even if your tax bill is zero. whatever the refundable amount is, you get to take home. host: we will go to ray in atlanta, georgia. caller: how much will an individual or can an individual receive who has two children in a single-parent household? what is the maximum amount of money they receive back in the form of tax credits? once you look at that and if there at that dollar level, we're finding their children for free and reduced lunch and i assume adding some additional money for their housing. w
locale raising state and taxes to solve their deficit problems. something to keep in mind when we talk about these detention caps. you could be pushed up against a deduction if you live in new york. if you live in new york and have high state and local taxes, if congress moves forward with a deduction cap, you could go right up to that cap. host: 24% of those were claiming the earned income tax credits. 13% climb in the child tax credit. these credits, you can use them simultaneously. guest:...
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coburn is known for his hard line on the deficit. he says he would rather bring down the debt by raising tax rates than just closing the loopholes and capping deducti s deductions. here's how he explained it. >> personally, i know we have to raise revenue. i don't really care which way we do it. actually, i would rather see the rates go up than do it the other way because it gives us greater chance to broaden the by as in the future and reform the tax code. >> two republican senators from maine are joining coburn in backing a tax hike on the wealthiest americans, but senator susan collins and olympia snowe say they would like to include some protect as well for small business owners. well, no debt talks scheduled between republicans and the white house, but the president is pushing ahead with the fiscal cliff pr campaign. he is meeting with a middle class family in northern virginia, and the white house says the president is going to talk about his efforts to extend tax cuts for the middle class as part of this debt deal. well, some
coburn is known for his hard line on the deficit. he says he would rather bring down the debt by raising tax rates than just closing the loopholes and capping deducti s deductions. here's how he explained it. >> personally, i know we have to raise revenue. i don't really care which way we do it. actually, i would rather see the rates go up than do it the other way because it gives us greater chance to broaden the by as in the future and reform the tax code. >> two republican...
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d that social security has nothing to do with the deficit. 2037. solvent and until medicare is solvent until 2024. u think where we're at, i know as i listenhen the question would the republicans get anything, i don'tven wa to use the word conceding coming together on behalf of the erican people where 62% believe on november 6th when the race was over the vote was really on whether or not shoulde a fair tax burden on those --. melissa: i'll give that to yo les go ahead and raise taxes. say we do that. that doesn't get us close to solving the problem. mean we still have $16.3 trillion in debt. we are still running $4 billion a day beyond what we're making. we this huge problem this country. if it was a house you wuld throw uppyour arms in distress say, my god, we can never y all theseills. that is sort of the point. >> i'm not in distress on that. first of all with the tax rrlief for 98% of the americans, wel turn a reasoned amount of a trillion upwards back into the treasury. that is the first st. secondarily, a lot of economists will make it v cle
d that social security has nothing to do with the deficit. 2037. solvent and until medicare is solvent until 2024. u think where we're at, i know as i listenhen the question would the republicans get anything, i don'tven wa to use the word conceding coming together on behalf of the erican people where 62% believe on november 6th when the race was over the vote was really on whether or not shoulde a fair tax burden on those --. melissa: i'll give that to yo les go ahead and raise taxes. say we...
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Dec 2, 2012
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we are in a deficit situation, as people have been discussing the past several weeks so there are potential in congress for the house and senate members. >> eric: billions of dollars. of taxpayers money that goes to the u.n. ambassador bolton, thank you for your insight. >> guest: thank you, eric. >> jamie: a fox news extreme weather alert. flood in effect for the west coast. yet another storm is approaching. folks are preparing for worst. severe weather threatening to bring more rain to an area that is already been drenched. chief meteorologist rick reichmuth live from the fox news extreme weather center. if you know rick is hanging out, it must be serious. how bad? >> really bad. this is the second batch of storms they have had this month. earlier in month, a lot of areas saw ten plus inchs of rain. now we have had another series of storms last week where we have seen ten plus inches of rain. the ground is saturated. this storm is windy. windy conditions across colorado, spreading across the intermountain west. the ground is saturated, if you take that wind and we will see more trees goin
we are in a deficit situation, as people have been discussing the past several weeks so there are potential in congress for the house and senate members. >> eric: billions of dollars. of taxpayers money that goes to the u.n. ambassador bolton, thank you for your insight. >> guest: thank you, eric. >> jamie: a fox news extreme weather alert. flood in effect for the west coast. yet another storm is approaching. folks are preparing for worst. severe weather threatening to bring...
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Dec 7, 2012
12/12
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not so he can lower the debt or the deficit but so he can spend to his heart's content. as a result some democrats have pushed the president to just raise the nation's debt ceiling on his own. they believe he has that executive power by invoking the 14th amendment of the constitution. but jay jay cancer carney the white house spokesman has studied that. they do not believe the president has that executive power. what that means they have got to go to congress to get the debt ceiling lifted the next couple of mons. that means the showdown is coming, shep. >> shepard: ed henry at the white house lawn. one critical republic who criticized house speaker john boehner over own party fiscal cliff honor says is he resigning. an important man, too. south carolina senator jim demint a key force behind the tea party movement. the founder of the tea party caucus in the senate and who predicted that the healthcare debate would be president obama's water loo. remember that? earlier this week he argued that speaker boehner's proposal tax hikes would destroy jobs. but senator demind say
not so he can lower the debt or the deficit but so he can spend to his heart's content. as a result some democrats have pushed the president to just raise the nation's debt ceiling on his own. they believe he has that executive power by invoking the 14th amendment of the constitution. but jay jay cancer carney the white house spokesman has studied that. they do not believe the president has that executive power. what that means they have got to go to congress to get the debt ceiling lifted the...
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Dec 7, 2012
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continuing hope is that the leadership in the country comes together, and finds an agreement that avoids deficit cliff we're hanging on. >> thank you. from the va. >> [inaudible] >> so one of the big problems with these long number of disability claims is the medical records issue, and secretary discussed a long term fix, improve the medical records, and secretary panetta described, and something that helps people still in the service by having better physicals so that when they leave the service, there's a better record of what their actual problems are, but what do you do for people in the middle,s hundreds of thousands of people who have pending claims now postponed because of the fact that the medical records either don't exist or are too complicated to come by so you can't prove or disprove there's a date. is there hope for them in what the two of you are working on? >> yeah, i think our production demonstrates we are working cases where the records are not immediately available. we go through erroneous effort so there's a fully developed claim and request make judgments. we're doing that a
continuing hope is that the leadership in the country comes together, and finds an agreement that avoids deficit cliff we're hanging on. >> thank you. from the va. >> [inaudible] >> so one of the big problems with these long number of disability claims is the medical records issue, and secretary discussed a long term fix, improve the medical records, and secretary panetta described, and something that helps people still in the service by having better physicals so that when...